News

The pre-budget report sets out a distinct New Labour strategy for our times.
The Chancellor played in unchartered territory today. Both economically and politically, the rule books have been thrown out of the window. The budget deficit is now forecast to be £78bn this year and £118bn next, Labour promises to increase the top rate of tax to 45 per cent at the next election, VAT is cut – from Monday – to 15 per cent, and interest rates already at three per cent are set to fall further.
What started as problems in the US sub-prime mortgage markets have now mushroomed into an economic and financial crisis to rival the Great Depression.

Progress Online, 24 November 2008, read more....